VANCOUVER, British Columbia, Oct. 31, 2017 (GLOBE NEWSWIRE) -- Sonny Chew announces that on October 30, 2017, he disposed of ownership of 1,200,000 common shares (the “Shares”) in the capital Pacific Arc Resources Ltd. (“Pacific Arc”) at a price of $0.09 per Share as to 200,000 Shares and $0.082725 as to 1,000,000 Shares for an aggregate price of $100,725 pursuant to private sales to third party purchasers. The Shares sold represent approximately 11.59% of the issued and outstanding common shares of Pacific Arc (the “Pacific Arc Shares”), which has an office at #905 - 1030 West Georgia Street, Vancouver, British Columbia V6E 2Y3.
Prior to the sale of the Shares, Sonny Chew held a total of 1,245,000 Pacific Arc Shares, which represented approximately 12.03% of the issued and outstanding Pacific Arc Shares. Following the sale of the Shares, Mr. Chew beneficially owns and has control over a total of 45,000 Pacific Arc Shares, representing less than 1% of the issued and outstanding Pacific Arc Shares.
Sonny Chew disposed of the Shares for investment purposes. He intends to evaluate his holdings in Pacific Arc and to increase and decrease his shareholding from time to time as he may determine appropriate.
A copy of the early warning report to be filed by Sonny Chew is to be available on the Pacific Arc’s SEDAR profile, and it can also be obtained by contacting him at (604) 689-2646.